EIOPA: Insurance stress test 2014
30 April 2014
The aim of the exercise in 2014 is to test the resilience of insurers regarding market risk under a combination of historical and hypothetical scenarios. Additionally, insurance risk will be tested and EIOPA will also include a low yield element in the exercise.
Stress tests represent one of the regular supervisory tools that help to assess the resilience of the insurance sector to adverse situations and to extract valid conclusions to support the stability of the financial system.
Timeline
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30 April 2014: Launch of a Europe-wide stress test for the insurance sector;
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20 May 2014: Workshop with industry participants;
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May – June: Q&A procedure for industry participants;
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11 July 2014: Deadline for submission of undertakings' data to the national supervisory authorities (NSAs);
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31 July 2014: Validation of undertakings' data by NSAs;
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August – mid September: Centralised validation of all the submissions by EIOPA;
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November 2014: Disclosure of the results of the stress test analysis.
The exercise will be run in close cooperation with the national supervisory authorities: the NSAs will identify and contact prospective participants in the test. As of now, EIOPA will provide industry participants with the regular updates on the status and all the upcoming steps of the stress test.
On 31 March, EIOPA invited insurance and actuarial associations (Insurance Europe, CRO Forum, AMICE, Actuarial Association of Europe, CFO Forum) to provide useful comments on stress test reporting templates. The objective of this consultation is to improve the usability of the templates and to allow for early understanding of the stress test shape and requirements.
© EIOPA
